Is Your Organisational Information Secure? 
IT systems form an integral component of all business processes, and are being attacked in a number of ways with increasing frequency. This requires shorter reaction times to deal with the attack before it impacts on the business.
Often an organisation is unaware that an ‘attack' has taken place.
Dealing With Fraud: Fail To Plan, Plan To Fail
There are many costs to a business when thinking about the consequences of fraud. Many of these have the potential to be avoided by planning how you will deal with fraud, considering the consequences to your business and, ultimately, its effect on your business' reputation.
Employee Theft - Why And How To Minimise It
Every business employing staff and selling either a product or service can be a victim of employee theft. This article will give you the insight into why it happens and how you can minimise it.
Getting The Most Out Of Your Relationship With Your Bank Manager
I'd like to share the benefits that many small business owners are enjoying by having a good relationship with their Bank Manager - and how your business can benefit too.
Keeping Your Fingers Out Of The Till
Separating your personal finances from those of the business can have a very positive impact on your cash position.
Twenty Questions To Energize Your Safety Process
When people know you care enough to ask them a question, and then take the time to listen to them, you can have a significant influence on your organisation's safety.
The Role Of Workplace Assessments
Workplace assessments are a specialised on-site examination of a workers duties and/or potentially suitable duties. In many workplaces, workplace assessments are used where problems have been identified, where potential risks need to be assessed, or where a person is returning to work.
Balancing Cashflow
Day-to day-operations - and sometimes even survival - can all come down to how we're able to manage the inflow and outflow of cash: our cashflow. So how can SMEs better manage their businesses' cashflow?
Managing Accounts Receivable Days
Have you heard the term 'Accounts Receivable Days'? This is not the number of days that you give your customers to pay, but the number of days, on average, that all of your customers are actually taking to pay you - which gives you a starting point to measure improvement.
Prepare Your Staff For Safety
Adopting an attitude of readiness will help overcome, and even remove, many of the obstacles staff have in their minds about safety. In this article, learn how to un-block the mental barriers to create a safer workplace.
When Friends Fall Out - Resolving Disputes Between Business Owners
With prompt action and the tactical use of proceedings (or threats of proceedings), disputes can often be resolved in a way that allows the parties to exit or get on with the far more productive activity of running a business.
How To Speed Up Payment From Customers
In this article, I discuss recovering money and ways to speed up payment after the invoice has been sent out to your customer.
Effective Safety Communication
How can we talk about safety in such a way that everyone doesn't get sick of hearing about it and therefore stop listening? Stick to developing, maintaining, and improving the safety process.
Avoid Prosecution - OH&S Due Diligence
Directors and managers are being held criminally responsible for the conduct of their corporation. The number of prosecutions is increasing as enforcement bodies' focus their attention beyond the corporate legal entity to the individuals who 'drive' it.
Make Safety A Personal Thing: Adopt A Safety Code Of Conduct
We often find that workers don't like the safe work procedures of their company. They consider safety something that someone is "doing to them" rather than a way to protect themselves, their co-workers, and their families. They don't take safety personally.
Accounts A Valuable Resource, Not A Compliance Nuisance
Accounts preparation should not be seen just as a compliance, pre-audit or tax return requirement. Businesses that stay on top of their accounting gain a great many benefits.
Your Report Card
Since the information contained in credit reports will directly affect whether you and your business can access credit through financiers, suppliers and even your phone company, it's important to understand what they are and how they're used.
Brand Erosion
All the hard work you put into establishing your brand will be for nought without the right protection.
The Secret Ingredient
How do you stop business partners from stealing your great new idea?
Defend Your Property
Knowing your weak spots is the first step in preventing your business assets from walking out the door.
Six Steps To Avoid Bad Debts
How well you do your debt collection can make or break your business. Every business has different methods and issues, so let's look at some of the key factors in running a successful debt collection process, in a typical business.
Protecting Your Confidential Information From Ex-Employees
Many companies spend thousands of dollars each year on the protection and security of their physical property but don't take steps to protect their most valuable asset - their confidential business and technical information.
Good Debt Versus Bad Debt
Whilst for most it's almost impossible to live debt free today, understanding the difference between good debt and bad debt will enable you to borrow smarter, save substantial interest costs and grow your wealth.
Cutting The Cost Of Banking
Your bank can make an enormous contribution to the long term success of your business, assisting funding, cash management and payment transfers. But as with any other expenses in your business, be sure that you always get the value you expect and don't pay more than necessary.
Get Financiers Fighting For Your Business
Be confident, prepared, and share your enthusiasm about the future of your business with your lender. Your attitude, approach and commitment to the long-term business goals will help to establish you as a highly sought after customer.
Loan Essentials - Reading Beyond The Small Print
Thankfully, securing a loan is relatively easy for most SMEs. You can be sure that there's a loan to suit pretty much any requirement, and as long as you're prepared, finance can be the key to growing your business. Just remember: take time to plan, don't be afraid to ask questions, and always read the small print.
The Secret To Surviving The Next Industry Earthquake
In today's rapidly-changing world, almost every industry is bound to experience, sooner or later, a time of dramatic change - a shift from a familiar technology or business model to a new one that disrupts the old ways of operating and threatens companies that refuse to change.
The Truth About Safety Incentives
What does it take to motivate employees to work safe?
Why Profitable Businesses Can Go Bust!
If a business is selling plenty of products or services and buying labour and parts at the right price, how is it possible for it to go bust? Cash is more often than not the reason why so many businesses fail.
Checklists For Developing A Safer Workplace
While legislative, social and moral obligations require employers to do all that is reasonable to ensure workplace risks don't exist and that accidents don't occur, workplace safety is definitely in the best interests of the employer too.
Keeping The Cash Flowing
It's a bloodbath out there! You read the papers, you walk through the shopping malls, and retailers are closing up or being bought out. It's been a long time since one could remember retail being so tough.
Safety In The Workplace: Be Rigorous, Not Ruthless
In these times of constant change and global competition, it is important to always look for improvement - especially when it comes to safety.
Three Things You Can Do To Improve Your Safety Culture
No matter how divided your organisation's safety culture seems to be, you can make a difference. It doesn't matter what your job title is, you can make a difference by leading others around you to create an environment where nobody gets hurt. That's a goal everyone can live with!
Electronic Document Retention: Navigating The Digital Blizzard
Your move to a fully electronic storage system is imminent, and all your document retention worries are over. Or are they?
I'm Retired - What Should I Be Thinking About Now?
A lot of focus is placed on saving for retirement - ensuring you will have enough to live on later. So you're retired - what now? In this article we look at some of the ongoing issues you'll be facing in retirement.
OH&S - Making Managers The Strongest Link
Managers at the operational level play an important role in maintaining the integrity of their employer's safety management systems.
Credit Risk Strategies To Minimise Bad Debts And Improve Cashflow
Winning sales is half the battle; ensuring you get paid is the other half!
Checklist Of Initiatives For Raising Staff Awareness Of Workplace Safety
If you want an informed safety culture in your workplace it all starts and finishes with your management support. Be pro-active and implement some of these initiatives in your workplace.
Confidentiality Agreements And The Standard Salad Sandwich
Confidentiality is becoming an increasingly important issue in commercial dealings. In this article we look at some of the issues that arise in relation to obligations of confidentiality.
Cash Is King
Over the years large retailers have been hell bent on reducing inventory and wages as a means of freeing up more cash. Retail buzzwords such as 'stock turns' and 'wage percentage' have been the mantra for the industry. Whilst this has brought various amounts of success, the challenge for most retailers is that they don't understand the full mechanisms of cash flow.
Cash Flow - The Key To Success
"Cash flow... the key to success" should perhaps be renamed "Cash flow... the key to survival!"
Due Diligence 101
In courts throughout Australia, directors and managers are being held criminally responsible for the conduct of their corporation. The number of prosecutions is increasing as enforcement bodies' focus their attention beyond the corporate legal entity to the individuals who ‘drive' it.
Debtor Control Checklist
Companies must take control of their debtors to ensure they don't end up in financial difficulties.
Retail Shrinkage - Small Percentages Represent Big Dollar Losses
Shrinkage can be a silent but deadly killer of retail profits. Often it is hard to measure because retailers lack the necessary management information from point of sale (POS) systems and accurate stocktakes to precisely measure the extent of the problem. The problem needs to be identified before it can be tackled.
Taking Advantage Of The Fluctuating Insurance Market
Are you taking advantage of the softening insurance market? Latest statistics show that the public liability market has softened and this is leading to a trend of reducing insurance premiums. Read on to understand how best to position your business for savings.
Rethinking Workplace Health And Safety
Just five years ago the cost of workplace injury and illness to the Australian economy was estimated at $34.3 billion.
Working Cashflow - Should Short-Term Investment Be Considered?
Financial management is part of our daily lives whether we are at work or play. To some ‘playing with the numbers’ is a form of entertainment, but to many of us it is a chore that comes with a ‘if it ain’t broken, don’t fix it’ approach. But what if you could save yourself cash by being more efficient, or better still, actually make money by investing cashflow in the appropriate funds?
Email Archiving - A Whole Of Company Issue
Enron, Morgan Stanley and the Australian Wheat Board are familiar names that may send shivers down the spine of senior managers. All these organisations have been involved in controversy over emails that have cost the company's reputation and/or large fines.
OHS Employer Responsibilities - Can You Afford A Prosecution?
As an employer, no matter how big or small your business, you have the responsibility for the day-to-day health, safety and welfare of your employees and visitors to your workplace.
Using A Risk Management System To Solve Business Problems For SMEs
Risk management practices need not be restricted to large organisations. The principles and systems can equally be applied to small and medium sized businesses.
Appropriate Risk Behaviour For Rapid Growth Entrepreneurs
This article is for those entrepreneurs interested in optimising the risk they accept while pursuing rapid growth.
Defeating Murphy
Hey, the sun is shining. Everyone is excited. The project holds promise of tremendous success. What could possibly go wrong? Everything!
Managing Your Creditors
If you have established good relationships with your suppliers, most will allow you to delay payment for a while so your business can weather short-term cashflow problems. But ignoring your creditors could put your business at risk.
Why You Can Be At Risk From Your Business Systems
Successful financial audit does not guarantee the financial integrity of your business systems. If you are an owner, director or have responsibility for your organisation’s financial controls, then you are carrying risk, as the audit process will not necessarily identify all potential flaws in the systems.
Trusts And Asset Protection: The Basics
What is a trust? How can a trust help protect your personal and business assets? As for business asset protection, is it something you need to know about? Here are the answers, delivered in a straightforward manner.
Pandemics And Business Continuity Plans
Risk assessment and risk management are integral parts of the operation of every business.
Self Managed Super, Residency And Moving Overseas
Moving overseas to take up a foreign posting, or extended retirement travel, may necessitate a major review of a person’s financial position. In particular an international move has significant implications on superannuation and taxation positions.
Royalty Stacking: Tips For Licensors And Licensees
In order to bring a product to market, a licensee may need to obtain rights from various rights holders. As a result, a licensee may be faced with a ‘stack’ of royalties to pay.
Financing Business Assets - Rent, Hire Or Purchase?
When it comes to buying business assets - whether they be company cars or factory equipment - there are a number of ways to finance the purchase.
5 Myths Of Inventory Reduction
Working capital management and achieving a positive cash flow are arguably the two most important requirements for staying in business. After all, cash is king!
Debt Recovery & Good Credit Control
Most businesses experience some problems getting paid on time by their customers. Good credit control helps to prevent this becoming a serious problem. However, there are occasions when a customer cannot, or will not, pay. To avoid a bad debt, you may need to use a third party or take legal action to recover the money you are owed.
Creating Cash Flow Projections You Can Trust
Trying to run a successful business without cash flow projections is like driving along on the freeway in a driving rainstorm without turning on your windshield wipers.
Corporate Venturing - With Due Care And Attention
Many of the problems which corporations experience with their venture investments show up, we believe, right at the outset. If managers understand better the parameters of their investment, and what they are trying to achieve, their chances of getting the initial conditions of the deal right will be greatly improved – and they are far less likely to come to grief further down the line.
Top 10 Asset Protection Strategies
For business owners and managers.
Memorandums Of Understanding - A Word Of Caution
In the early stages of negotiation of a transaction or project, parties often record in writing the key terms on which they have reached agreement. Common expressions for this preliminary document include “heads of agreement”, “letter of intent” and “memorandum of understanding” (MOU). This article examines some of the legal and practical implications of entering into an MOU.
Capital Gains Tax And Family Law
The forgotten cost of a family law settlement. Tax minimisation is not always associated with family law. However capital gains tax (“CGT”) can represent a significant cost in a family law settlement. When a marriage ends prudent tax planning can make a considerable difference to the parties’ post-divorce financial positions.
Maximising Value From Intellectual Property (IP)
In this article, we use the example of technology development to illustrate how your business can get the most out of your Intellectual Property (IP) through licensing.
Someone Is Using My Trade Mark! - Breaching Intellectual Property Rights
Legal advisors often receive calls regarding Intellectual Property (“IP”) from clients, or potential clients. They generally fall into two categories:
- “how to identify and protect my IP?”
- “someone is breaching my IP rights”; or
- “someone has complained that I am breaching their IP rights”
13 Steps To Help You Get Paid
Getting started, recognising customers in trouble and maintaining your importance: all key elements in helping you get paid.
10 Quick Tips To Disaster Proof Your Business
Disasters happen, but if it happens to you - your business doesn’t have to go down the drain. Businesses sometimes burn down. A ‘key’ person in your business or organisation can have an accident, become ill, die. If this key person is you, you don’t want all the hard work you’ve put in over the years to count for nothing. You have a legacy to hand on to others.
Crisis Management - How To Plan For The Unthinkable
No business wants to face a crisis that could cause them significant business disruption and result in extensive media coverage.
Risk Management - Tips To Plan A Strategy
As we become more dependent on computer technology in today's business climate, losing access to your computer files can have disastrous consequences, regardless of the size of your organisation.
Debtors: How To Manage Them And Prevent Bad Debt Write-Offs
Sound credit management is a critical aspect of a growing business particularly as mounting unsettled customer accounts often accompany a business' growth.
Debt Collection For Your Business
It is important for all business operators to have a structured debt collection policy to help preserve sufficient cash flows for the business.
Leading Your Team In Stressful Times
While you can never predict the unexpected, you can develop strategies to cope with it. This will help you in a crisis and will reduce ongoing stress by minimising uncertainty in your business.
The Pros And Cons Of Purchasing Business Premises
Buying business premises gives you control over one of your major financial investments. As an owner-occupier, you can choose to stay in the premises forever. If need be, you can raise money through selling, taking out an additional mortgage or letting part of the premises.
Employee Fraud - First Steps To Minimising Your Risk
Fraud committed by employees on their employers has been increasingly in the news. And not only fraud by ordinary employees. It is also very common for fraud to be committed by one business partner or director on fellow partners or directors.
Tax Deductions And Fraud
Although the monetary losses that result from fraud are usually tax deductible, provided there is a connection with a business or income-producing activity and the money has been included in assessable income, there are exceptions.
Proactively Fighting Fraud
Research by the Association of Certified Fraud Examiners has shown that on average an organisation loses 6% of its annual revenue to fraud - for a business with less than 100 employees this equates on average to $98,000.
E-commerce And Patent Protection
E-commerce is short for electronic commerce, and is simply the idea of replacing traditional business activity with business activity that is executed using any information and communication technology (ICT). Whilst this activity is not new, it is the widespread adoption of the internet that has led to the importance of e-commerce to business today. The internet enables organisations to cut through the boundaries of time and geography by putting store owners and customers all over the world into virtual contact with each other to engage in commerce.
Workplace Stress - How To Manage It Effectively
An increasing number of workers compensation 'stress' claims means employers need to know how to reduce the likelihood of these claims and how to manage a claim once it is made. While the total number of cases in NSW is only about 2 percent of all workers compensation claims, stress claimants are on average away from work almost twice as long as other workers compensation claimants. Stress claims cost almost twice as much as an average workers compensation claim.
Testamentary Trusts - Estate Planning Strategies
In recent years the term “Testamentary Trust” has been used to describe what is usually a Discretionary Family Trust established under a Will. Their popularity arises from the considerable benefits that can flow from their establishment under a Will. A number of these benefits arise from the fact that the assets of the Trust while they may be controlled by a potential beneficiary, do not form part of that beneficiary’s estate. This feature means that a beneficiary’s inheritance that has been provided through a Testamentary Trust can be highly beneficial in a number of circumstances.
Allocated Pensions . . . Are They Right For You?
An allocated pension is a tax-effective retirement income stream created from funds in superannuation. They have been very popular with retirees in recent years but before you use one it is important that you understand how they work.
Organisational Stress Infection
How can you tell whether your organisation has a stress infection? Organisational stress is a dangerous infection affecting the majority of businesses and organisations today. When cutbacks are combined with unrealistic expectations and reduced autonomy, the workplace environment becomes psycho toxic and dangerous. Ignoring this infection could lead to devastating consequences, affecting the very survival of the organisation.
Preparing To Survive A Business Disaster
Statistics indicate that nearly half of all business which suffer a major disaster, do not survive the experience. Planning can improve the odds of survival.
How ‘Influential’ Are You Really?
Nowadays individuals and their organisations depend much less on positional power and authority, and much more on the influencing skills of their people. Being recognised and rewarded as an effective manager increasingly demands the competencies of a skilful negotiator.
Third Party Created Copyright Works - Who Owns Them?
Who owns copyright in a logo created by a graphic designer – the graphic designer or the company that commissioned the logo? Businesses often fail to ask this question and incorrectly assume that if they pay a third party to create an advertisement, logo, software, website, photograph or other copyright work, they will own copyright in such works.
Perks Of The Job Or Workplace Fraud?
If your business offers staff 'perks', either official or unofficial, you have the potential for your employees to overstep the mark and commit workplace fraud.
Intellectual Property In Mergers And Acquisitions: 10 Ingredients To A Successful Deal
The awareness of intellectual property as an important feature of commercial transactions reached its peak in the recent past during the 'dot com era'.
Beware 'Old Sayings' In Business...Many Are Outright Lies!
'The customer is always right' and 'knowledge is power' are but two prime examples...
Become An 800lb Gorilla Or A Guerrilla - The Only Two Business Options
Some choice! Businesses confront an important decision. They must decide between becoming an 800 lb gorilla or a deft footed guerrilla.
What Comes First A Knowledge Management System Or A High Trust Culture?
There is no doubt that a supportive corporate culture is vital to any change. No Knowledge Management system will survive if the people, processes and practices do not compliment the journey.
Realising Value From Know-How
The term ‘knowledge economy’ appears regularly in newspapers and business magazines. At the government level we see knowledge-based strategies for economic growth.
How Safe Is Your IP?
Your Intellectual Property (IP) is probably your most valuable asset - is it protected?
Would You Know If Your Workplace Is Safe?
Just how safe is your workplace? Find out for yourself in this article.
Family Atmosphere Of SMEs A Breeding Ground For Fraud
The “family atmosphere” that typifies many small businesses makes those companies more vulnerable to fraud, says a leading forensic accountant.
Intellectual Property - The IP Audit
An IP Audit is a review of business structures and activities to identify IP assets and assist clients in protecting, exploiting and commercialising that IP. This article gives a detailed look at the reasons and structure of an IP Audit.
Occupational Health & Safety Tips
Safety is a major concern for all businesses and while large business often sees itself as capable of managing its own risk, some smaller businesses have struggled to implement the new workplace safety laws.
Asset Protection Strategies
The current indemnity crisis gripping the medical profession and the threat of litigation in that industry has prompted many business operators to consider strategies that may assist should the unforeseeable happen and their business fail.
International Trade Mark Registration Simplified
Trade mark owners must strategically protect their key corporate and product identifiers in relevant markets. Otherwise it is open for competitors or squatters to do so, which may have detrimental effects on their commercial dealings in a country, and future plans for business expansion.
Protect Your Business Against Escalating Insurance Premiums
Over the past decade the insurance industry has shown poor results and insurance premium increases are affecting businesses throughout Australia.
Revenue - A Vital Feature Of Cost Management
Revenue is too often the forgotten side of the cost management equation. Cost management is the management, not just the measurement, of cost.
How To Spot A Trusted Advisor
While many people are concerned with planning for their financial futures, much scepticism towards the Financial Services Industry exists which is preventing these same people from becoming financially well organised, securing their futures, and enjoying more of what’s important to them.
Entrepreneurs Require Demystification Of Financial Management
Lack of financial management is often cited as the main reason for business failure. Formal accounting techniques and reports fail the entrepreneur, as these procedures are too rigid and too slow to respond to events, and historical accounting methods often do not reflect the current activities of the business. This article discusses the need to bridge the gap between accounting practices and entrepreneurship.
War Of Knowledge
It's a war out there – a war of knowledge. Victory lies with organizations that create, recognize and organize knowledge.
Avoiding Financial Crisis
In almost all cases, a business experiences some level of financial trouble during its life cycle. For many, this trouble is resolved in the ordinary course of business, with management or owners paying attention to early warning signals, identifying the problems, and developing solutions that work when implemented properly.
Protecting Your Business And Product Names As Trade Marks
If you have ever been involved in starting up your own business, you will know about the legal requirement to register your company or business name.
Getting The Most Out Of Your Intellectual Property Assets
Did you know that...
Recognising Family Secrets As Intellectual Property For Competitive Advantage
Most family businesses are not protecting their most important competitive tool - their intellectual property.
Business Intelligence - An Introduction
Winning companies use their eyes and ears as well as their mouths!
Business Intelligence - Soft Information: Part 1
Hard, or published, information is not all it's cracked up to be; soft information is the essence of intelligence.
Business Intelligence - Soft Information: Part 2
Hard, or published, information is not all it's cracked up to be; soft information is the essence of intelligence.
Business Intelligence - Soft Information: Part 3
Hard, or published, information is not all it's cracked up to be; soft information is the essence of intelligence.
Business Intelligence - Soft Information: Part 4
Hard, or published, information is not all it's cracked up to be; soft information is the essence of intelligence.